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Class Lecture

In: Business and Management

Submitted By twayanas
Words 421
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The World is Flat The first chapter in our course book starts by explaining Friedman’s revelation that “The World is Flat”. It starts on a trip to Bangalore of India where he takes a look around and can’s figure out if he’s in the New World, Old World, or the Next World. He compares his journey to that of Columbus’s many years ago, where Columbus’s came with the repot that the world was round but Friedman came with the report that the world is flat. From this, we can see that a “flat” world is one in which the “playing field” on which companies compete has become level and also it is one in which companies from various countries can compete with one another on an equal basis. Technology has allowed companies from more and more countries of the world to compete on an equal basis in the global economy. The world is flattening that we must look at from all perspectives. Friedman breaks down Globalization into three key agents Globalization 1.0, Globalization 2.0 and Globalization 3.0. The first key agent was how much physical strength that a country had and how much creatively could move it into action. The second key agent was about global integration and multinational companies. And the last key Globalization 3.0 which talk about the shrinking the world from small to tiny as well as leveling the playing field at the same time. The unique characteristic of this three key stages are that they are based on the new found power of individuals to collaborate and compete globally. This new stages was going to be make it easier for people from all over to join in to the globalization process and contribute its growth. These all factors made Friedman realize that he didn’t have an appreciation for what was occurring, making him want to learn and write a book talking about how the world is flat. Also this topic talks about law of supply and demand with regards to the

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